Daily Market Interpretation - BTC 02/21

Overall Analysis

The overall BTC market remains positive, with prices close to the previous resistance level of 99600, but not yet breaking through. Recently, there has been an increase, but it hasn't surpassed the previous high, so it is advised to avoid chasing the rise and wait for clear signals.

Operation Suggestions

• Current resistance level: 99600 (take profit on spot, small stop loss on shorts, maintain the first resistance or exit at cost during pullbacks).

• First resistance level: 100204101052 (after reaching this area from the night high, a volume increase is needed; after 8 hours of sideways movement, consider entering with a stop loss at 99480).

• Second resistance level: 102499103646 (after reaching this area, a pullback to the first resistance around 99600 is needed, with a stop loss at 99480).

Support Levels

• Short-term support: 9759896880 (1:2 quick in and out).

• Second support: 9466693086 (extend adjustment time, take profit on the rebound first).

Technical Analysis

• From 12-hour to daily level: the market remains positive, but has not broken through the key resistance level.

• From 1-hour to 4-hour level: forming a 'head and shoulders bottom' pattern, currently rising at the neck line position, but has not broken through; caution is advised regarding risks.

Market Outlook

All levels of the market show signs of bottoming, but have not broken through mid-short term structural resistance. The overall market direction does not look negative, but the timing for entry should wait for increased volatility.

Summary

The overall trend of BTC is inclined to be volatile, and without breaking through the previous levels, cautious operation is advised, waiting for clear signals before entering. #山寨季來了？